The Knesset on Tuesday gave final approval to the Economic Aid Plan Bill, 2020, which was submitted amid the harsh restrictions on Israel’s economy due to the corona pandemic.
The bill includes amendments and adjustments to the economic aid plan that are meant to make it easier for businesses to receive grants and for the months they suffered and will suffer economically due to the additional restrictions that have been imposed in light of the corona crisis. The bill also delays the mechanism for reducing unemployment benefits.
The bill determines, among other things, that an aid grant will be given for permanent expenses during the months of September-October to businesses that sustained a 25% drop in volume compared to the corresponding period last year, before the pandemic broke out. The previous version of the bill gave grants to businesses that reported a 40% decrease in volume.